The term 'Working Capital' refers to: MCQ with Answer and Explanation
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Question #1
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A: The Going Concern concept justifies the charging of depreciation. R: Depreciation allocates the cost of an asset over its useful life. Choose the correct option.
Correct Answer: Option D
Explanation:
The Going Concern concept assumes the business will continue indefinitely, which justifies capitalizing asset costs and depreciating them over their useful lives. R correctly explains the mechanism of depreciation.
The Going Concern concept assumes the business will continue indefinitely, which justifies capitalizing asset costs and depreciating them over their useful lives. R correctly explains the mechanism of depreciation.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Under GST, the 'Taxable Event' is:
Correct Answer: Option A
Explanation:
GST is levied on 'supply' rather than manufacture or sale alone.
GST is levied on 'supply' rather than manufacture or sale alone.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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'Bills Payable' is shown under:
Correct Answer: Option C
Explanation:
Bills payable are obligations payable on demand or within a year, thus current liabilities.
Bills payable are obligations payable on demand or within a year, thus current liabilities.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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